Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any
discrepancy between this translated document and the original Japanese document, the latter shall prevail.

Summary of Non-Consolidated Financial Results
for the Six Months Ended September 30, 2022
(Based on Japanese GAAP)
November 8, 2022
Company name:
ALPHA SYSTEMS INC.
Stock exchange listing: Tokyo
Stock code:
Representative:

4719
President

URL

https://www.alpha.co.jp/
Kiyoshi Saito

Inquiries:
Senior Executive Managing Director
Scheduled date to file Quarterly Securities Report:

Satoshi Takada
November 10, 2022

Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

December 6, 2022
Yes

Holding of quarterly financial results meeting:

Yes

TEL

044-733-4111(for analysts and institutional investors)(Amounts less than one million yen are rounded down)
1. Non-consolidated financial results for the six months ended September 30, 2022 (from April 1, 2022 to September 30, 2022)(1) Non-consolidated operating results (cumulative)Percentages indicate year-on-year changes

Net sales
Six months ended September 30, 2022
Six months ended September 30, 2021

Millions of yen
17,387
16,211

Operating profit% Millions of yen
7.3
2,059
11.9
1,942

Earnings per share% Millions of yen
6.1
2,091
34.2
1,969

Profit% Millions of yen
6.2
1,432
33.7
1,342

%
6.7
35.3

Diluted earnings per share

Yen
102.0395.65

Six months ended September 30, 2022
Six months ended September 30, 2021

Ordinary profit

Yen––(2) Non-consolidated financial position
Total assets

Net assets

Millions of yen
47,091
46,824As of September 30, 2022
As of March 31, 2022

Equity ratio

Millions of yen
38,77338,122%82.3
81.4

2. Cash dividends
Annual dividends per share

Year ended March 31, 2022
Year ending March 31, 2023

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Yen––

Yen
25.00
35.00

Yen–

Yen
55.00

Yen
80.00

–

35.00

70.00

Year ending March 31, 2023 (Forecast)Total

3. Forecast of non-consolidated financial results for the year ending March 31, 2023 (from April 1, 2022 to March 31, 2023)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
35,000Operating profit% Millions of yen
3.3
4,200

Ordinary profit% Millions of yen
4.1
4,240

1Profit% Millions of yen
3.8
2,900

Earnings per share%
4.0

Yen
206.56

4. Notes(1) Application of special accounting methods for preparing quarterly non-consolidated financial statements: No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
NoChanges in accounting policies due to revisions to accounting standards and other regulations:
Changes in accounting policies due to other reasons:
Changes in accounting estimates:

NoNo

Restatement of prior period financial statements:

No(3) Number of issued shares (common shares)
Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2022

14,052,400 shares As of March 31, 2022

14,052,400 shares

Number of treasury shares at the end of the period
As of September 30, 2022

13,159 shares As of March 31, 2022

13,007 shares

Average number of shares during the period (cumulative from the beginning of the fiscal year)
Six months ended September 30, 2022

14,039,318 shares Six months ended September 30, 2021

214,039,590 shares

Quarterly non-consolidated financial statements
Non-consolidated balance sheets(Thousands of yen)
As of March 31, 2022

As of September 30, 2022

AssetsCurrent assets
Cash and deposits
Accounts receivable and contract assets

22,700,793
8,556,001

22,662,956
7,490,305

Securities
Work in process

1,499,953
8,583

1,499,953
11,298OtherTotal current assets

238,804

356,005

33,004,137

32,020,519

Non-current assets
Property, plant and equipment
Buildings, net

4,244,378

4,150,255

Land
Other, net

5,173,538
123,629

5,173,538
107,343

Total property, plant and equipment

9,541,546

9,431,137

Intangible assets
Investments and other assets

24,42921,693

Investment securities
Other

792,694
3,462,880

1,079,530
4,540,040(1,000)(1,000)Allowance for doubtful accounts
Total investments and other assets

4,254,575

5,618,570

13,820,551

15,071,401

46,824,688

47,091,920

Accounts payable - trade
Income taxes payable

1,380,293
860,989

1,206,959
879,035

Provision for bonuses
Provision for bonuses for directors (and other officers)

1,219,722–

1,634,239
86,000Other

3,717,672

3,037,969

Total current liabilities

7,178,677

6,844,203

Provision for retirement benefits
Other

1,283,906
239,147

1,235,110
239,147

Total non-current liabilities

1,523,054

1,474,257

8,701,731

8,318,461

Shareholders' equity
Share capital

8,500,550

8,500,550

Capital surplus
Retained earnings

8,647,050
20,960,509

8,647,050
21,620,811(38,352)(39,015)

38,069,757

38,729,396

Valuation difference on available-for-sale securities

53,19944,063

Total valuation and translation adjustments

53,19944,06338,122,956

38,773,459

46,824,688

47,091,920

Total non-current assets
Total assets
Liabilities
Current liabilities

Non-current liabilities

Total liabilities
Net assets

Treasury shares
Total shareholders' equity
Valuation and translation adjustments

Total net assets
Total liabilities and net assets

3Non-consolidated statements of income (cumulative)(Thousands of yen)Six months ended

Six months ended

September 30, 2021

September 30, 2022

Net sales
Cost of sales

16,211,642
12,163,838

17,387,107
13,188,241

Gross profit

4,047,803

4,198,866

Selling, general and administrative expenses

2,105,785

2,139,037

Operating profit

1,942,017

2,059,829

Interest income
Dividend income

9,031
1,820

12,581
550

Rental income
Other

18,1606,349

18,1608,389

Total non-operating income

35,361

39,681

8,188

8,435

Non-operating income

Non-operating expenses
Rental costs
Other84

0

8,272

8,435

1,969,106

2,091,075

1,227

761

10–

1,237761

Loss on retirement of non-current assets

3,280

–

Total extraordinary losses

3,280

–

1,967,063

2,091,837

712,844731,660

Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Gain on sale of investment securities
Total extraordinary income
Extraordinary losses

Profit before income taxes
Income taxes - current
Income taxes - deferred(88,710)(72,292)

Total income taxes

624,133

659,368

1,342,930

1,432,468

Profit4Non-consolidated statements of cash flows(Thousands of yen)

Cash flows from operating activities
Profit before income taxes

Six months ended

Six months ended

September 30, 2021

September 30, 2022

1,967,063

2,091,837

Depreciation
Increase (decrease) in provision for bonuses

123,186
426,137

110,499
414,517

Increase (decrease) in provision for loss on orders received
Increase (decrease) in provision for retirement benefits(9,000)13,383–(48,796)Interest and dividend income
Loss (gain) on sale of investment securities(10,851)(10)(13,131)–Decrease (increase) in trade receivables and contract assets
Decrease (increase) in inventories

780,407(54,084)

1,065,696(2,715)

Increase (decrease) in trade payables
Other, net(373,452)(636,160)(173,334)(695,150)

Subtotal

2,226,617

2,749,422

Interest and dividends received
Income taxes paid

10,848(560,172)

9,660(708,384)

Net cash provided by (used in) operating activities

1,677,293

2,050,698

Cash flows from investing activities
Payments into time deposits(500,000)(1,500,000)

Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment

500,000(48,715)500,000(16,343)

Proceeds from sale of property, plant and equipment
Purchase of intangible assets

8,700(2,776)––(999,900)(1,399,900)

1,105,990

1,100,000

Purchase of short-term and long-term investment securities
Proceeds from sale and redemption of short-term and longterm investment securities
Other, net(14,188)(113)

49,109(1,316,357)

(574)

(663)

Dividends paid

(351,124)(771,513)

Net cash provided by (used in) financing activities(351,698)(772,177)

Net cash provided by (used in) investing activities
Cash flows from financing activities
Purchase of treasury shares

Effect of exchange rate change on cash and cash equivalents––

Net increase (decrease) in cash and cash equivalents

1,374,704(37,837)

Cash and cash equivalents at beginning of period

20,032,135

22,200,793

Cash and cash equivalents at end of period

21,406,840

22,162,956

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